Tag: Jay Weatherill

Myths and Mysteries In The State Mid Year Budget Update – Part 3

So, on these two items alone, compared with 2010 by 2016 there will be a reduction of around $1.75b, representing a massive 10% of the State Government budget. That is, while Weatherill talks of not withdrawing, in truth he and his Government are proposing shrinking what it spends out in the community by 10%. This is very likely the greatest contraction (‘withdrawal’) of government in the nation’s history!

Myths and Mysteries In The State Mid Year Budget Update – Part 1

But the bottom line to the State’s finances by Labor is now, as it has been since the GFC (the start of FY2008-09) that the management of them is clearly out of control.

FRINGE EDITORIAL – In 2012, The Great Fear About Annual Fringes Has Became A Reality

When the Fringe went annual, the great concern was that at some point it would all lose its sparkle and freshness and the excitement that biennial festivals bring. Despite the hero talk of the Fringe Office about every increasing ticket sales and the like, in 2012 those fears have indeed been realised.

RAW: State Budget Mid Year Update – What Needs To Be Revealed

We project the State Budget loss for this year will go from $263m to $400m. Going out to 2014, the result will go from a $655m surplus to at best break even. On all of the State’s financial liabilities, these should increase by $1b in debt by end of 2014 and the unfunded State Super liability will increase by $1.4 billion. All up total State liabilities will increase from the projected $19.5b to around $22b.

RAW: This State’s Finances – The Real Rann Legacy = State Bank 2.0 – Part 3

Can we expect new Treasurer Snelling to have the smarts to fix this mess? Recently he stated, “$4.2 billion is not a lot of money. It is like the average person having a $26,000 debt.’”Well, if his credit card analogy and his views of $4.2 billion don’t worry you, then his $26,000 figure should. He got his maths wrong by a factor of 10!

RAW: MacPherson Spells Out Constitutional Crisis From Burnside Report

South Australians need to thank former Auditor General, Ken MacPherson for his 90 minutes of evidence yesterday to the Special Enquiry into his draft report relating to the operations of the Burnside Council.

RAW: This State’s Finances – The Real Rann Legacy = State Bank 2.0 – Part 1

Here is the analysis of this State Government’s finances that our mainstream media does not want to report to you for fear of upsetting the Government. It makes for very scary reading, especially for all those who have presently bought into the notion this Labor Government has been good financial custodians. Part 1 of 3

RAW: Adelaide Oval Update – Costs Blow Out

Kryztoff understands from well placed sources that the quantity surveyors have reported to the Government that in their view the works will now cost between $700m and $800m and this doesn’t include the footbridge. So one can now confidently predict the costs of the announcement the Labor Party had to have are double the original estimates.